United States v. New Orleans Railroad
Supreme Court of the United States
This was a, suit instituted by the United States, as the holder of a number of the first and second mortgage bonds of the New Orleans and Ohio Railroad Company, against ¡that company, and one Trimble, trustee of them, to foreclose the mortgages given to secure the said bonds. These mortgages were executed in 1858 and 1860, respectively, and covered all the company’s property of every kind, with a stipulation to include also all future acquired property.
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This was a, suit instituted by the United States, as the holder of a number of the first and second mortgage bonds of the New Orleans and Ohio Railroad Company, against ¡that company, and one Trimble, trustee of them, to foreclose the mortgages given to secure the said bonds. These mortgages were executed in 1858 and 1860, respectively, and covered all the company’s property of every kind, with a stipulation to include also all future acquired property. The trustee of the mortgages and,several individual bondholders were made parties, and the bill contained proper allegations as to the…
1Opinion of the CourtJustice Bradley
The appellants contend, first, that the court had no authority to make the decision; that the proceeding was wholly irregular, without proper pleadings, and coram non judice. This objection- hardly comes with a good grace from the appellants,"Who all joined in submitting the question to the court. But the jurisdiction was undoubted. A court of equity, in a suit for the foreclosure of a mortgage, clearly has cognizance of all questions relating to priority of Hen on the property in litigation, as between the parties to the suit and those whom they lawfully represent. The mode in •which…
2Cited by119 opinions
- Slodov v. United StatesSupreme Court of the United States · 1978
- Fosdick v. SchallSupreme Court of the United States · 1879
- McGourkey v. Toledo & Ohio Central Railway Co.Supreme Court of the United States · 1892
- Bear Lake & River Water Works & Irrigation Co. v. GarlandSupreme Court of the United States · 1896
- New Mexico v. United States Trust Co.Supreme Court of the United States · 1898
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